ABC TV Reporter
- Thread starter antoinette
- Start date
My daughter and son in law, now 31 and 33, partied hard, travelled for years, worked all around oz at menial jobs, came back to Melb 6 years ago, rented a house, (ie did not live with M & D) saved hard, but not too long as they were still party animals, saved hard, got married, saved hard bought house, bought new ute, have had professionals instal fantastic new kitchen, painted entire house, new blinds, polished floors, new dining room suite, expensive new lounge suite, still go overseas once a year, and.... have just about paid off their house. I think they are fantastic. They only have very ordinary jobs (no uni ed) No its not in a toffy suburb, but just like all us oldies started out, they were prepared to be realistic.
Meanwhile the academics with university degrees pushing socialist reforms keep bleating on about the 'housing crisis'. Your post above shows that anyone can buy a house and enjoy life if they want to. The sacrifice (if you can call it that) is buying in a non blue chip suburb. So what. I am sure your daughter and son in law could now buy into a blue chip suburb if they really wanted to.
Time to change the channel and move onto more interesting topics. The topic above ABC reporter is boring and has been done to death over the past year. Old news. Move on please.....
From one of the taxpayers who keep helps to fund your programs.
Regards Jason.
Thanks Celia and well done to the young ones.
Antoinette,
Wouldn't it be a more positive move to source role models like Celia's son and daughter in law as to how they have succeeded in achieving "The Australian Dream".
House prices have always been high and unaffordable without taking on considerable debt - ask your parents - and grandparents.
Pointing young people on the right path in the right direction is what I would suggest you aim for. There are young people out there who know how to live within their means and are achieving their "great Australian housing dream". Go find some and share their stories.
Agreed. There is so much doom and gloom talked up in the media about housing affordability, that many younger ones get quite despondent about ever having their own home.
It would be far more encouraging and helpful for them, if the ABC could educate and inspire them to achieve their dream.
Welcome to SS 'tor'.
You sound like an interesting person.
I think we agree on index investing (as an alternative to stock picking at least) from what I recall of our GHPC banter.
Although, I have not had any money in index funds/listed investments of any kind for some time now (excluding super).
You sound like an interesting person.
I think we agree on index investing (as an alternative to stock picking at least) from what I recall of our GHPC banter.
Although, I have not had any money in index funds/listed investments of any kind for some time now (excluding super).
Thanks for the welcome and I certainly try to stay interested in a range of stuff (staves off the alzheimers) hehehe.
Certainly we tend to agree on indexing. The morningstar research on the listed property index is, in fact, one of the reasons I am slightly confused by decisions made by some people here.
As I have just bought a house to live I have also reduced my dollar amount per week into my indices (paying the mortgage early is almost like a post tax and fees 9% return and so is hard to argue against mathematically).
I do whack small amounts in each week just to keep in the habit, another reason I like index funds, the cost of trade is proportional to the amount of the trade so tiny little $100 purchases are actually viable.
Cool. Nigel Stapledon of the University of NSW School of Economics has done a study on long term house prices in Australia. If you notice the bottom of the chart, the source for real house prices comes from Stapledon.
The average dwelling price in Australia in 1880 was the pounds equivalent of $870.
If house prices double every 10 years, the average house price today is $5.547 million. If they double every 7 years, it is $142.8 million.
You better start buying some more property - it's extremely cheap.
Gee! I wonder what the house price/average wage multiple was then?
I know the harvester decision in 1907 set the basic premise of a minimum wage at $1.40 /week
http://en.wikipedia.org/wiki/Harvester_Judgment
Did that make the housing expensive or cheap then?
Cheers
Shane
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I guess that's where the myth stops doesn't it. For the price/average wage to stay constant, then it assumes wages also double every 7 to 10 years!
I don't think some people comprehend the power of compounding. (But don't tell too many people, otherwise when the music stops we will have a once-in-100-year slump)
In 1880 the average house was probably an acreage in Darling Harbour. You can guess what that would be worth now. A good deal more than 5.5m.
Again off topic, martial arts reference again, but yes, Tor, have heard of it actually and know what it is...was curious as both hubby and I are also black belts in different martial arts, me just a regular, run-of-the-mill one but he has been European champion, second place world champion etc...in his style. Not that it is something I'd write or even comment on in a property-related investment forum but hey? (oops, I have now, haven't I)...
back to original topic please, which was......
back to original topic please, which was......
Now I am feeling old. There has been a couple of these "once in a hundred years" events in my lifetime in property and a few in the sharemarket. But I suppose thats an advantage having the perspective of a five hundred year old.
Cheers
Shane
First post frm a first poster ...
Maybe she met the fate of her namesake and got chopped off at the neck ( hence now unable to reply ??)
kp
Tis the weekend. Maybe she has the weekends off!
She will have to sit in front of the screen for about an hour when she returns to hacking in the morning. Actually I hope she can hack the reading.
C'mon Antoinette. How about some response. People here are getting impatient!
